Mortgages have an APR (annual percentage rate - a stated rate) of 7.56%. Payments and compounding are monthly. You wish to borrow 520,000 to buy a house in Mar Vista and wish to take out a 30 year mortgage. Fees are included as part of the loan.
The periodic monthly rate is ____
Your monthly payment will be _____
The interest portion of the first payment will be ______
The principal portion of the first payment will be ______